Company News

April 1, 2021

Recticel Completes Acquisition

Recticel completes the acquisition of FoamPartner

Regulated information, Brussels, 01/04/2021 — 00:07 CET, 01.04.2021

Recticel is pleased to announce that on 31 March 2021, it successfully acquired FoamPartner, the Swiss-based global provider of high added-value technical foams. 


Olivier Chapelle (Chief Executive Officer): “The closing of the transaction went smoothly, and within the expected timeframe. Recticel Flexible Foams and FoamPartner will now be merged to form the Recticel Engineered Foams business line. The new organisation will leverage numerous synergies in resources and talents to promote excellence, grow its worldwide presence and accelerate the commercialisation of sustainable innovations and leading-edge solutions to global markets. We are delighted to welcome our new colleagues into the Group.”

FoamPartner will be integrated in the consolidated financials of Recticel as from 01 April 2021.

https://www.recticel.com/recticel-completes-acquisition-foampartner.html

April 1, 2021

Recticel Completes Acquisition

Recticel completes the acquisition of FoamPartner

Regulated information, Brussels, 01/04/2021 — 00:07 CET, 01.04.2021

Recticel is pleased to announce that on 31 March 2021, it successfully acquired FoamPartner, the Swiss-based global provider of high added-value technical foams. 


Olivier Chapelle (Chief Executive Officer): “The closing of the transaction went smoothly, and within the expected timeframe. Recticel Flexible Foams and FoamPartner will now be merged to form the Recticel Engineered Foams business line. The new organisation will leverage numerous synergies in resources and talents to promote excellence, grow its worldwide presence and accelerate the commercialisation of sustainable innovations and leading-edge solutions to global markets. We are delighted to welcome our new colleagues into the Group.”

FoamPartner will be integrated in the consolidated financials of Recticel as from 01 April 2021.

https://www.recticel.com/recticel-completes-acquisition-foampartner.html

April 1, 2021

Stockmeier Expansion in Germany

STOCKMEIER Urethanes expands location in Lemgo-Lieme

STOCKMEIER Urethanes is investing in a new 1,400 square meter administration and development building in the Lemgo district of Lieme. The partner for the structural implementation is the Bielefeld construction and real estate company, GOLDBECK. Today, the client and general contractor celebrated the symbolic ground-breaking ceremony in the industrial area “Im Hengstfeld” – due to the current situation – in a small circle of people. Nevertheless, the joy about the start of construction is great on all sides.

As a member of the STOCKMEIER Group, STOCKMEIER Urethanes has been developing and producing polyurethane systems for industrial as well as sports and leisure applications since 1991.

In order to accommodate the growth of the company, a move from Bielefeld to Lemgo already took place in 2010. To perfectly match the company’s 30th anniversary, STOCKMEIER Urethanes is now celebrating another milestone in the company’s history.

“We have outgrown our current space – that’s a problem you like to have in this day and age,” says operations manager Timo Laucks. “When completed, the new building will house the administration and research and development departments.”

“In the new laboratory space, we want to advance our research and development in the areas of future-oriented innovations and product developments for e-mobility, among other things. As a regional employer, the topic of sustainability on the one hand and responsibility for our environment on the other play an important role. The trend towards alternative drives has increased significantly – also among our employees. That’s why we decided to provide charging stations for e-bikes as well as for electric and hybrid cars,” says Timo Laucks.

The administration and development building is only the starting point for extensive investments at the Lemgo site. In a second construction phase, a new warehouse and dispatch center will be built at “Im Hengstfeld 8”.

STOCKMEIER Urethanes has engaged a major player in the East Westphalian industry for the construction of the administration and development building: The Bielefeld construction and real estate company GOLDBECK, which is currently also building the Astrid Lindgren School and the vocational training center in Lemgo. Timo Laucks: “We are pleased to have GOLDBECK at our side, an experienced general contractor with whom we share our East Westphalian home and family business values. The company has translated our special requirements into a building concept that makes optimal use of the property capacities.”

The move-in is planned for December 2021. “The new building is representative of the great work of all colleagues who have contributed to our positive company development with their dedication over the past 30 years. I am already looking forward to welcoming them to the new premises at the end of the year – hopefully then with a somewhat larger opening ceremony,” Timo Laucks proudly summarizes.

April 1, 2021

Stockmeier Expansion in Germany

STOCKMEIER Urethanes expands location in Lemgo-Lieme

STOCKMEIER Urethanes is investing in a new 1,400 square meter administration and development building in the Lemgo district of Lieme. The partner for the structural implementation is the Bielefeld construction and real estate company, GOLDBECK. Today, the client and general contractor celebrated the symbolic ground-breaking ceremony in the industrial area “Im Hengstfeld” – due to the current situation – in a small circle of people. Nevertheless, the joy about the start of construction is great on all sides.

As a member of the STOCKMEIER Group, STOCKMEIER Urethanes has been developing and producing polyurethane systems for industrial as well as sports and leisure applications since 1991.

In order to accommodate the growth of the company, a move from Bielefeld to Lemgo already took place in 2010. To perfectly match the company’s 30th anniversary, STOCKMEIER Urethanes is now celebrating another milestone in the company’s history.

“We have outgrown our current space – that’s a problem you like to have in this day and age,” says operations manager Timo Laucks. “When completed, the new building will house the administration and research and development departments.”

“In the new laboratory space, we want to advance our research and development in the areas of future-oriented innovations and product developments for e-mobility, among other things. As a regional employer, the topic of sustainability on the one hand and responsibility for our environment on the other play an important role. The trend towards alternative drives has increased significantly – also among our employees. That’s why we decided to provide charging stations for e-bikes as well as for electric and hybrid cars,” says Timo Laucks.

The administration and development building is only the starting point for extensive investments at the Lemgo site. In a second construction phase, a new warehouse and dispatch center will be built at “Im Hengstfeld 8”.

STOCKMEIER Urethanes has engaged a major player in the East Westphalian industry for the construction of the administration and development building: The Bielefeld construction and real estate company GOLDBECK, which is currently also building the Astrid Lindgren School and the vocational training center in Lemgo. Timo Laucks: “We are pleased to have GOLDBECK at our side, an experienced general contractor with whom we share our East Westphalian home and family business values. The company has translated our special requirements into a building concept that makes optimal use of the property capacities.”

The move-in is planned for December 2021. “The new building is representative of the great work of all colleagues who have contributed to our positive company development with their dedication over the past 30 years. I am already looking forward to welcoming them to the new premises at the end of the year – hopefully then with a somewhat larger opening ceremony,” Timo Laucks proudly summarizes.

April 1, 2021

Hanwha TDI Investments

Chairman Kim Seung-yeon returns to Hanwha Group to drive new businesses

As Chairman of Hanwha Group Kim Seung-yeon returns to management after seven years, Hanwha’s core affiliates are taking a drive in new businesses.

ANI | Seoul | Updated: 01-04-2021 08:56 IST | Created: 01-04-2021 08:56 IST


Chairman Kim Seung-yeon returns to Hanwha Group to drive new businesses
Hanwha System. Provide by Hanwha, resale and DB storage prohibited. Image Credit: ANI

Seoul [Sout Korea], April 1 (ANI/Global Economic): As Chairman of Hanwha Group Kim Seung-yeon returns to management after seven years, Hanwha’s core affiliates are taking a drive in new businesses. Following trillions of investments in space and aviation, it will also promote its own production of Dinitrotoluene (DNT).

It was announced on Wednesday that Hanwha Solutions [009830] and Hanwha Co., Ltd. are planning to jointly invest a total of 350 billion won to build a nitric acid and nitric acid derivatives (DNT) production facility in Yeosu Industrial Complex. DNT, which is produced from nitric acid and toluene, is a key raw material for toluene diisocyanate (TDI), that is used to produce artificial leather etc.

Hanwha Solutions plans to invest 160 billion won and Hanwha Co., Ltd. 190 billion won to build nitric acid and nitrate derivatives (DNT) facilities. Hanwha Solutions has been purchasing TDI from Hu-Chems [069260] until now, and when this plant is completed, 100% of TDI can be produced in-house.

The two companies plan to build a TDI production facility with an annual capacity of 180,000 tons using the area of 66,000m^2, half of the 132,000m^2polysilicon site in the Yeosu Industrial Complex of Hanwha Solutions. It aims for commercial production in January 2024. An official at Hanwha Solutions explained, “With this in-house DNT production, we will build a vertical integration line for the production of caustic soda, chlorine, synthetic gas, DNT, and TDI.”

Hanwha Solutions predicts that if TDI is produced in-house, the operating margin will increase by about 10 % due to cost improvement. Through this project, Hanwha Corporation is expanding its nitric acid business by producing 400,000 tons of nitric acid.

Hanwha Corporation plans to advance into the inorganic chemistry and derivatives business by enhancing its nitric acid business competitiveness. Prior to this investment, Hanwha Group decided to make a paid-in capital increase worth 1.2 trillion won to Hanwha Systems [272210], a defense, space, and aviation company.

Hanwha System’s largest shareholders, Hanwha Aerospace [012450] and H Solutions, are participating in a total capital increase of 730 billion won. H Solution is a company that is 100% owned by three sons of Chairman Kim Seung-yeon, Kim Dong-gwan, Kim Dongwon, and Kim Dongseon.

Hanwha Systems is planning to invest 500 billion won in LEO (Low Earth Orbit) satellite communications, 450 billion won in air mobility business, and 250 billion won in blockchain-based digital platform business throughout 3 years starting this year. It is planning to expand the air mobility (air taxi) business in earnest. The business community believes that the power of Chairman Kim Seung-yeon, who returned to management after seven years, is attributable to Hanwha Group’s recent active business expansion. (ANI/Global Economic)

https://www.devdiscourse.com/article/international/1517944-chairman-kim-seung-yeon-returns-to-hanwha-group-to-drive-new-businesses